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Trump's Remarks During a Roundtable with Governors on the Reopening of America's Small Businesses
REMARKS
Remarks by President Trump During a Roundtable with Governors on the Reopening of America’s Small Businesses
ECONOMY & JOBS
Issued on: June 18, 2020
State Dining Room
3:32 P.M. EDT
THE PRESIDENT: Okay, thank you very much. It’s an honor to see you all today on this beautiful afternoon — White House.
We’re here today to discuss our efforts to support our nation’s small businesses — working very hard — and safely reopen America. And that’s what’s happening. We’re doing record numbers. We’re doing numbers like nobody has ever seen before, actually.
I’m thrilled to be joined by two good friends of mine: Governor Pete Ricketts of Nebraska — Pete, thank you very much; and a man that I’m going to see a little bit over the weekend — and this was a really by coincidence that you happened to be here today because it was for a different reason that has to do with small business — Governor Kevin Stitt of Oklahoma.
And we’re going to be in Oklahoma. And it’s a crowd like, I guess, nobody’s seen before. We have tremendous, tremendous requests for tickets like, I think, probably has never happened politically before. And one of the reasons we chose your state, as you know, Kevin, was that you’ve done so — so well with the COVID. You’ve handled it incredibly well. We appreciate — you both have, actually. You both have. So, congratulations.
{snip}
After I was elected President, our country added more than 7 million jobs, 12,000 factories, and trillions of dollars of wealth. We created nearly 9,000 Opportunity Zones. And African American, Asian American, and Hispanic American unemployment and poverty reached all-time lows.
We had the greatest employment numbers we’ve ever had, and then we had to turn it off. We saved millions of people by doing it. We did the right thing. And now we’re turning it back on, and the numbers are going up much, much faster than anybody would have thought. And that’s a great honor to see it.
And these two governors, by the way, are doing a — have done a fantastic job. Two very extraordinary men. Nebraska and Oklahoma.
We built the strongest economy the world has ever seen before the virus, and together we’re doing it again. So we did it before the virus. We had to turn it off. And now we’re doing it again, and that’s what’s happening.
So now I’d like to — maybe we’ll start off with Governor Ricketts and then we’ll get to my friend over here. I’ll be seeing so much of you in the next couple of days, I’ll take you second. (Laughter.) Okay?
Thank you very much. Please.
GOVERNOR RICKETTS: Well, thank you very much, Mr. President. And to all of your team here: We really appreciate your effort, your leadership, and that of your team’s to be able to help us through this pandemic, and really give us the tools to be able to manage it. The PPP program you mentioned has been tremendously successful in Nebraska.
{snip}
Larry, how are we doing today?
MR. KUDLOW: Well, un- — weekly unemployment claims fell for the 11th straight week. That’s a good sign.
We’re going to have job numbers in June, and I think we’ll be very strong. I agree with Steven; I think the rescue plan worked. I think the PPP was superhuman. It probably saved 55 million jobs. And we saw that with the 3 million dol- — 3 million job increase in the May numbers.
I compiled my list of green shoots, sir. We’ve got Apple mobility for traveling almost back to its pandemic — pre-pandemic high; homebuilder demand and confidence is very, very strong; automobiles — car sales are moving from 8.6 million to 12.2 million as the factories reopen; as you noted, the retail sales number was a spectacular 18 percent; Michigan Consumer Expectations, very strong today; NFIB Optimism Index, expect economy to improve a record jump — expect economy to improve a record jump; and manufacturing, the Philly Fed and the New York Fed Future Activity Indexes are off the charts.
If I play reference to the Congressional Budget Office, if we get a 20 percent increase in Q3, which I think is quite possible; 20 percent increase in Q4; and a 5 percent increase in Q1, 2021; we will be back to where we were in 2019. We will have made up for the lost ground.
THE PRESIDENT: Amazing.
MR. KUDLOW: It’s not going to take five years.
THE PRESIDENT: That’s amazing.
MR. KUDLOW: We will have made it up with some decent numbers by the first quarter of 2021.
THE PRESIDENT: That’s called a “Super V,” right?
MR. KUDLOW: “Super V.” I like the “I” scenario.
THE PRESIDENT: It’s called a “V-” — it’s called a “V- plus.” Well, that’s where we’re headed.
But we were headed to great things, and then we got hit by the Chinese plague. So, you know, that happens too. And things happen that you don’t expect sometimes. So — but we’re — we built it once. We’re now building it again. And it’s going to be even more successful in my opinion.
Kayleigh, please.
MS. MCENANY: Yes, Mr. President. I would just note that the “V” is indeed an “I,” and you’ve described this economy like a “rocket ship” previously. And I think the numbers you laid out are worth reemphasizing, because it’s exactly that: 2.5 million jobs added, blowing past expect — expectations. You had the experts off by about 10 million jobs. That’s quite an extraordinary number to be off by. Also the Dow above 26,000 points. You mentioned the NASDAQ setting the record. Seven million jobs. Nine thousand Opportunity Zones.
You’re the jobs President. You did this once. You brought 7 million jobs. And quite clearly, what the markets are saying is they have faith that you are the jobs President that will do this again.
THE PRESIDENT: So, most people have never built a positive economy. We’re going to do it twice, and the second time is going to be better than the first, I think, Steve. We have a shot at it. Right? Okay, please. Go ahead.
{snip}
MS. BURSON:
{snip}
President Trump, America’s restaurant industry is grateful for your leadership in guiding us through this pandemic. Thank you again for inviting me to meet with you. And thank you, for Governor Stitt, for your leadership in getting Oklahomans back to work.
{snip}
MR. PATEL: Thank you, Mr. President. Honored to represent the lo- — lodging industry before America’s first hotelier President. Grateful to Governor Stitt for his leadership and for the invitation to join today.
My name is Pete Patel, first-generation American. My family and I immigrated to the United States in 1979 in search of the American Dream. We found that American Dream in Tulsa, Oklahoma — a small hotelier — small business and hoteliers.
Our company owns and operates 12 hotels in eastern Oklahoma. The current crisis — lodging was the first to suffer because of shelter-in-place, and we will be the last to recover. It may take up to two years.
Before COVID, our industry had record occupancies, profitability, and new development hotels, thanks to the exceptional strong economy under your leadership, Mr. President.
{snip}
In conclusion, Mr. President, America’s hoteliers are grateful for your leadership. Appreciate — we appreciate — and you know what it’s like to own and operate hotels. We’re looking forward to working with you towards a swift and strong recovery.
{snip}
MS. ROLLINS:
{snip}
And thank you, Mr. President, for your leadership.
THE PRESIDENT: Thank you for doing a great job. You’re doing great.
MS. ROLLINS: Thank you.
THE PRESIDENT: Thank you very much. Okay, thank you all very much. Thank you. Thank you very much.
END
4:03 P.M. EDT
Remarks by President Trump During a Roundtable with Governors on the Reopening of America’s Small Businesses
ECONOMY & JOBS
Issued on: June 18, 2020
State Dining Room
3:32 P.M. EDT
THE PRESIDENT: Okay, thank you very much. It’s an honor to see you all today on this beautiful afternoon — White House.
We’re here today to discuss our efforts to support our nation’s small businesses — working very hard — and safely reopen America. And that’s what’s happening. We’re doing record numbers. We’re doing numbers like nobody has ever seen before, actually.
I’m thrilled to be joined by two good friends of mine: Governor Pete Ricketts of Nebraska — Pete, thank you very much; and a man that I’m going to see a little bit over the weekend — and this was a really by coincidence that you happened to be here today because it was for a different reason that has to do with small business — Governor Kevin Stitt of Oklahoma.
And we’re going to be in Oklahoma. And it’s a crowd like, I guess, nobody’s seen before. We have tremendous, tremendous requests for tickets like, I think, probably has never happened politically before. And one of the reasons we chose your state, as you know, Kevin, was that you’ve done so — so well with the COVID. You’ve handled it incredibly well. We appreciate — you both have, actually. You both have. So, congratulations.
{snip}
After I was elected President, our country added more than 7 million jobs, 12,000 factories, and trillions of dollars of wealth. We created nearly 9,000 Opportunity Zones. And African American, Asian American, and Hispanic American unemployment and poverty reached all-time lows.
We had the greatest employment numbers we’ve ever had, and then we had to turn it off. We saved millions of people by doing it. We did the right thing. And now we’re turning it back on, and the numbers are going up much, much faster than anybody would have thought. And that’s a great honor to see it.
And these two governors, by the way, are doing a — have done a fantastic job. Two very extraordinary men. Nebraska and Oklahoma.
We built the strongest economy the world has ever seen before the virus, and together we’re doing it again. So we did it before the virus. We had to turn it off. And now we’re doing it again, and that’s what’s happening.
So now I’d like to — maybe we’ll start off with Governor Ricketts and then we’ll get to my friend over here. I’ll be seeing so much of you in the next couple of days, I’ll take you second. (Laughter.) Okay?
Thank you very much. Please.
GOVERNOR RICKETTS: Well, thank you very much, Mr. President. And to all of your team here: We really appreciate your effort, your leadership, and that of your team’s to be able to help us through this pandemic, and really give us the tools to be able to manage it. The PPP program you mentioned has been tremendously successful in Nebraska.
{snip}
Larry, how are we doing today?
MR. KUDLOW: Well, un- — weekly unemployment claims fell for the 11th straight week. That’s a good sign.
We’re going to have job numbers in June, and I think we’ll be very strong. I agree with Steven; I think the rescue plan worked. I think the PPP was superhuman. It probably saved 55 million jobs. And we saw that with the 3 million dol- — 3 million job increase in the May numbers.
I compiled my list of green shoots, sir. We’ve got Apple mobility for traveling almost back to its pandemic — pre-pandemic high; homebuilder demand and confidence is very, very strong; automobiles — car sales are moving from 8.6 million to 12.2 million as the factories reopen; as you noted, the retail sales number was a spectacular 18 percent; Michigan Consumer Expectations, very strong today; NFIB Optimism Index, expect economy to improve a record jump — expect economy to improve a record jump; and manufacturing, the Philly Fed and the New York Fed Future Activity Indexes are off the charts.
If I play reference to the Congressional Budget Office, if we get a 20 percent increase in Q3, which I think is quite possible; 20 percent increase in Q4; and a 5 percent increase in Q1, 2021; we will be back to where we were in 2019. We will have made up for the lost ground.
THE PRESIDENT: Amazing.
MR. KUDLOW: It’s not going to take five years.
THE PRESIDENT: That’s amazing.
MR. KUDLOW: We will have made it up with some decent numbers by the first quarter of 2021.
THE PRESIDENT: That’s called a “Super V,” right?
MR. KUDLOW: “Super V.” I like the “I” scenario.
THE PRESIDENT: It’s called a “V-” — it’s called a “V- plus.” Well, that’s where we’re headed.
But we were headed to great things, and then we got hit by the Chinese plague. So, you know, that happens too. And things happen that you don’t expect sometimes. So — but we’re — we built it once. We’re now building it again. And it’s going to be even more successful in my opinion.
Kayleigh, please.
MS. MCENANY: Yes, Mr. President. I would just note that the “V” is indeed an “I,” and you’ve described this economy like a “rocket ship” previously. And I think the numbers you laid out are worth reemphasizing, because it’s exactly that: 2.5 million jobs added, blowing past expect — expectations. You had the experts off by about 10 million jobs. That’s quite an extraordinary number to be off by. Also the Dow above 26,000 points. You mentioned the NASDAQ setting the record. Seven million jobs. Nine thousand Opportunity Zones.
You’re the jobs President. You did this once. You brought 7 million jobs. And quite clearly, what the markets are saying is they have faith that you are the jobs President that will do this again.
THE PRESIDENT: So, most people have never built a positive economy. We’re going to do it twice, and the second time is going to be better than the first, I think, Steve. We have a shot at it. Right? Okay, please. Go ahead.
{snip}
MS. BURSON:
{snip}
President Trump, America’s restaurant industry is grateful for your leadership in guiding us through this pandemic. Thank you again for inviting me to meet with you. And thank you, for Governor Stitt, for your leadership in getting Oklahomans back to work.
{snip}
MR. PATEL: Thank you, Mr. President. Honored to represent the lo- — lodging industry before America’s first hotelier President. Grateful to Governor Stitt for his leadership and for the invitation to join today.
My name is Pete Patel, first-generation American. My family and I immigrated to the United States in 1979 in search of the American Dream. We found that American Dream in Tulsa, Oklahoma — a small hotelier — small business and hoteliers.
Our company owns and operates 12 hotels in eastern Oklahoma. The current crisis — lodging was the first to suffer because of shelter-in-place, and we will be the last to recover. It may take up to two years.
Before COVID, our industry had record occupancies, profitability, and new development hotels, thanks to the exceptional strong economy under your leadership, Mr. President.
{snip}
In conclusion, Mr. President, America’s hoteliers are grateful for your leadership. Appreciate — we appreciate — and you know what it’s like to own and operate hotels. We’re looking forward to working with you towards a swift and strong recovery.
{snip}
MS. ROLLINS:
{snip}
And thank you, Mr. President, for your leadership.
THE PRESIDENT: Thank you for doing a great job. You’re doing great.
MS. ROLLINS: Thank you.
THE PRESIDENT: Thank you very much. Okay, thank you all very much. Thank you. Thank you very much.
END
4:03 P.M. EDT
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